Carube Copper Corp. - Copper and Gold Assests: Jamaica and British Columbia
           
   

Salal Project, British Columbia Canada

The Salal Property covers the entire extent of the Miocene age Salal intrusion. Historic exploration, consisting of several periods of work between 1960 and 2008, has identified a 15 kilometre trend of molybdenum occurrences. Drilling however has been limited to 16 holes (5,808 metres). Recent work by Miocene Metals, Carube Copper’s predecessor company has identified priority areas for follow-up within the 15 kilometre trend of molybdenum occurrences.

The Salal property is located between the towns of Pemberton and Gold Bridge, approximately 150 kilometres due north of Vancouver in the Coast Mountains of southwest British Columbia (Figure 1). Forest service roads cross the northern property boundary providing access from Lillooet (150 road km). To the south, a forest service road passes within several kilometres of the southern property boundary, which, if extended to the property, would make Pemberton reachable in less than 80 road kilometres. Both Pemberton and Lillooet are on the provincial power grid and the BC Rail line. There are three hydro-electric power dams within about 40 kilometres to the east.

The property encompasses 34 claims with a total area of 12,380.24 ha (Figure 2). All of the Salal claims are in good standing until August 1st , 2019.

The Salal Property has seen several periods of historic exploration work since molybdenite was discovered in the Salal Creek drainage in 1960. This work has defined a 15 kilometre trend of molybdenum occurrences, however only 16 drill holes are documented in the available records.

Work to date has identified four large target areas associated with the Miocene aged Salal pluton, based on geophysics, geochemistry, and the presence of alteration and/or mineralization (Figure 3). These areas are known as Mud Lake (broken down to the Mud Lake, Logan Ridge, Glacier Island, Plug Glacier, and Rosette Creek targets), Lone Wolf/Big Creeks, Float/Plug Creeks, and the Numbered Creeks areas.

Most of the work to date has focused on the Glacier Island - Logan Ridge - Mud Lake - Plug Glacier targets in the Mud Lake area, which extends over a strike length of 3,500 metres on the northern end of the 15 kilometre trend of molybdenum occurrences located on the property. Mapping and prospecting in the Mud Lake area discovered new occurrences of molybdenite mineralization at Glacier Island and Plug Glacier, which are located 2 kilometres to the west and 800 metres to east of Mud Lake, respectively. Both are areas where receding glaciers have exposed molybdenite mineralization that was covered by ice when the area was explored in the 1960s and 1970s (see Figure 4)

Surface sampling results for the Mud Lake area are shown on the map above. Assays for samples collect in 2011 are tabulated below.

Table 3. 2011 Assay Results, Mud Lake Area

Location
Sample#
Mo (%)
Ag (ppm)
Re (ppm)
Glacier Island
K880061
0.042
5.2
0.018
Glacier Island
K880062
0.204
0.16
0.016
Glacier Island
K880072
0.285
19.2
0.166
Glacier Island
K880073
1.115
0.86
0.290
Glacier Island
K880074
0.290
0.43
0.034
Glacier Island
K880075
1.155
0.70
0.074
Glacier Island
K880078
0.100
2.11
0.025
 
Plug Glacier Toe
K880078
0.209
7.18
0.143
Plug Glacier Toe
K880078
0.074
6.45
0.265
Plug Glacier Toe
K880078
0.065
11.6
0.065
Plug Glacier Toe
K880078
0.278
26.6
0.278

Two diamond drill holes, totalling 710.8 metres, tested mineralized areas north and west of Mud Lake.

Hole MSA-003, drilled in the Mud Lake area intersected 20.6 metres of 0.057% Mo, 0.46 g/t Ag and 0.035 ppm Re including 4.8 metres of 0.207% Mo, 1.02 g/t Ag and 0.109 g/t Re. The intersection was made within a 145.5 metre interval grading 0.02% Mo. (see Figure 5). Based on the current understanding of the geometry of the mineralization core lengths are estimated to approximate true width.

This intersection occurs under the western end of a 500 metre long area of mineralization defined by historic work and confirmed by this summer's work program. Follow-up drilling is warranted to complete testing this area.

Initial drill testing of the new occurrences of molybdenite mineralization at Glacier Island and Plug Glacier is also warranted on a priority basis.

The Mud Lake and the Numbered Creeks areas, are centred on two large circular magnetic features within the polyphase Salal intrusion (Figure 6). The nature of these magnetic features and their relationship to the mineralization is not understood at this time, but it is hypothesized that they may represent a later intrusive phase which is genetically related to the mineralization.

The exploration target on the Salal property is a low-flourine type porphyry molybdenum deposit, sometimes also referred to as a calc-alkaline stockwork, granite-related, or a quartz-monzonite hosted molybdenum deposit.

These deposits typically consist of stockworks of molybdenite-bearing quartz veinlets and fractures in intermediate to felsic intrusive rocks and associated country rocks. The deposits are typically of modest grade but large and amenable to bulk mining methods. Typical size is 100 Mt at 0.1 to 0.2 % Mo.

Notable examples include:

Deposit Location Production and Resources*
Endako British Columbia 336 Mt at 0.087 % Mo
Thompson Creek Idaho 181 Mt at 0.110 % Mo
Red Mountain (Yukon): Yukon 187 Mt at 0.100 % Mo
Quartz Hill Alaska 793 Mt at 0.091 % Mo
Glacier Gulch British Columbia 125 Mt at 0.151 % Mo

*Source: Sinclair, W.D. (1995): Porphyry Mo (Low-F-type), in Selected British Columbia Mineral Deposit Profiles, Volume 1 - Metallics and Coal, Lefebure, D.V. and Ray, G.E., Editors, British Columbia Ministry of Employment and Investment, Open File 1995-20, pages 93-96

Porphyry molybdenum deposits associated with low-F felsic intrusive rocks have been an important source of world molybdenum production. Virtually all of Canada's Mo production comes from these deposits and from porphyry Cu-Mo deposits.

In the current low molybdenum price environment the property is inactive. Sufficient assessment work has been filed to hold the property until 2019. The Company is looking for partner funding for this project, or a sale of this asset.

The next phase of proposed work at Salal is focused on the Mud Lake and Numbered Creeks areas. Work to date has defined significant mineralization in these areas. The next phase of work entails getting a better understanding of the structural controls and geometry of the mineralization in order to optimize drill targeting.

Detailed Mapping and Prospecting (Structure-Alteration-Geology) including Rock Sampling (~150-200), will be carried out focused on the known areas of interest surrounding the two concentric ring features that encompass the Mud Lake/Glacier Island/Plug Glacier area as well as the Number 2 Creek area in the southwest of the intrusion.

The mapping and sampling will be complemented by a 32 L-km 3DIP Survey over ~14 lines running perpendicular to the known structural trend of the mineralized zones within the Mud Lake corridor and the Numbered Creeks concentric dome areas.

This data will be integrated with all historic and regional data sets to optimize drill targeting in these areas. In particular, the work will focus on developing a 3D structural model of the Mud Lake mineralized area to attempt to identify hidden blowouts or other structural traps under the glacial cover that could concentrate sulphides.

Examination of the Numbered Creeks area will focus on the concentric ringed zone and high molybdenum values to attempt to determine if they are caused by a near surface porphyritic intrusive centre.

A total of between 1,300 and 1,500 metres of drilling is proposed in 5-6 diamond drill holes. Two initial 350m holes will focus on the Mud Lake Trend. Three additional 200-300m holes will be planned in other prospective areas including Glacier Island, Big Creek, and No. 2 Creek.

   
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